tournament fees...too high or what?

[NYTyler]

I regularly play at the Taj in Atlantic City. The midnight madness tournament draws scores of people. There are generally lots of weak players. During the week the buy in is $38 plus a $12 fee. 24% is generally a high amount for a fee.

How do you know when a fee is too high for live tournament play? I like this tournament but is it not worth playing with a fee like this?

What's a good rule of thumb as far as tournament fees? Is this too much or what?